Economic growth in the euro zone rebounded in the third quarter thanks to strong performances by Germany, France and Italy. The latest EU estimate has growth in the thirteen countries that share the single currency 0.7% higher than in the soft second quarter and up by 2.6% compared with the same period last year.
GDP in Germany expanded by 2.5% in the period, in France by 2.1% and in Italy by 1.9%. Demand in Asia and elsewhere has helped some companies counter the impact of the slowdown in the US economy, but signs of weakening growth in the euro zone emerged towards the end of the third quarter
And economists said the indications for the final three months of the year and into 2008 are not so rosy. The region's economies will have to cope with higher credit costs, the euro at record levels against the dollar and other currencies as well as high oil prices.
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